This discussion was created from comments split from: Is financial aid hard to get?.
I always though that students OOS received grants and scholarships because the college likes to attract OOS students? My D is an OOS student and accepted into both Temple and Penn State. We are waiting to hear back from both…she did receive some merit from Temple, but do you think we have no chance of receiving grants?
I am a single mom, teacher. My EFC is approx. 24,000
It’s not that simple @BettyQ
Most OOS publics do NOT give grants to OOS students. They expect you to pay the high tuition because the parents live elsewhere and don’t pay taxes there.
Think about it…their mission is to educate instate students. And, why would they bother to charge high OOS rates if they were then having to empty their limited FA budget handing out aid to cover those high costs??? If they wanted OOS students, they’d simply remove the OOS tuition rate, right?
That said, some OOS publics want high stats students so they might offer merit scholarships for high stats students. As you mentioned, Temple gave some merit, but that is likely all you’d get besides a loan and maybe some work-study. No grants are likely.
PSU is awful with aid and merit. Temple now gives less merit and likely you will not get any grants from them.
Did you run the net price calculators on the websites? If so, what results did you get??
Private colleges care more about getting OOS students, but even they don’t alway have much money to give away.
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According to College Board Temple usually meets 70% of the need, but out of that 70% 45% of it is grants and the other 55% is loans? I am just wondering if that is going to change …
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Those stats don’t mean anything really, particularly for an OOS student. Most of the students are instate and therefore their COA is much lower and it’s easier to cover a larger % of their COA.
Also…that stat only deals with students who actually enrolled. It doesnt’ include the many accepted students who got little/no aid and couldn’t afford to enroll.
And it doesn’t mean “meets 70% of need”…it means an average of 70% of need for enrolled students. That can mean that many of their enrolled students had very little need and it was mostly covered with a $5500 loan (particularly for instate students or high EFC students).
When you ran the NPC, what aid did it show?
I did hear that Penn was bad and that Temple will not be as good as it used to be. Penn’s NPC says zero and Temple’s is hard to say because their data is all wrong. It says OOS tuition with room and board is $66,000, which I know is not true. I am not expecting any school to cover the need from cost of attendance to my EFC, but I have never heard of anyone receiving zero or paying full tuition (unless they do not have need and fill out a FAFSA)
Sure, if you fill out FAFSA, and your EFC is more than Pell qualified, you will get a $5500 student loan, and maybe some work study.
Even if the COA is wrong (too high), what did it say that you’d be given?
And, it appears that you wouldn’t be given zero, because I think you’ve mentioned that your DD was awarded some merit. How much merit did you get?
And, yes, many people pay full tuition even after submitting FAFSA. Many folks only get a $5500 loan!
Temple will not be as good as it was in the past for MERIT, because in past years, it was giving tooooooo many full tuition awards for high stats. That broke the bank!
BTW…PSU is not Penn. Penn is an Ivy. PSU is Penn State.
Unless a visit to Temple won’t cost you much money, I would wait to visit until after you get your aid info. At this point, I imagine that the only aid you’ll get is that merit scholarship, a $5500 loan, and maybe $2k of work study. If that’s not enough, then wait until the aid pkg unless travel won’t be expensive.
COA is about $45k??
And your EFC is $24k?
So about $21k of need?
Subtracting the scholarship, the $5500 loan, and maybe $2k of W/S may leave you with a small gap depending on the scholarship size.
Do you know how much you’re willing to pay each year?
You do understand that the merit scholarship gets applied to “need” (reduces need) and won’t reduce your EFC. And it appears that you’ll be gapped.
Yes, I understand that about the merit…what does, “you’ll be gapped mean?”
She received $5000 merit
Your daughter is not going to be eligible for any federal or state grants. It would be a stretch to say that she will receive a lot of institutional scholarship aid above the 5k in merit that she has already been given.
Financial aid is based on the following premise:
Cost of attendance - EFC = demonstrated need.
If Temple cost 60,000 and your EFC is 24, 000 your demonstrated need is 29, 555
Of this $29,000 your daughter received a merit scholarship of 5k bringing your need down to 24,000
Your daughter always has the option of borrowing $5500 in federal loans. This will bring her need down to $18, 500
at schools that meet 100% demonstrated need, she would receive this 18, 500 need would be fulfilled by Temple. However temple does not meet 100% demonstrated need. When a school does not meet 100% need the amount between what is offered in the financial aid package and your demonstrated need is called the gap (unmet need)…
Right now, if Temple does not give you any institutional aid, you will have a gap of $18, 500, which will be on you to pay the best way that you can in addition to your EFC
If they just gave around $5000 that would make a big difference- you think that is out of the question?
Temple does not cost $60,000…with OOS their yearly estimate is approx. 43,000/45,000
I think it’s highly unlikely they will give another $5k because:
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they already gave $5k based on your DD’s app.
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She didn’t submit scores
3). Schools generally give larger merit to buy top scores.
Don’t forget that tuition room and board increase every year, but the scholarship will not. The cost you’re seeing now, is probably the cost for the current school year. You will see FOUR increases during your child’s college time.
It’s such a business…I just need another $4-$5000 to make this doable, but we have good schools in MA too, so she can always go to UMASS Amherst. She just loves Philly and wanted to go out of state. Thanks!
And we should have submitted her scores; they were fine. We just did not have them back for EA.
Yes it is a business, in some ways. And, it’s like a household. They need X dollars coming in so as to keep the lights on and everything running. But, they’re also non-profit, so not exactly like a business.
Were her test scores in the top quartile for the school? If so, then maybe more merit. If not, then likely not more merit. Her test scores may have been “fine”, but if not high, then the school won’t be motivated to “buy” the scores and enrollment. “Fine” test scores can get a student admitted, but getting admitted doesn’t equal substantial merit.
I would try to find out what the aid pkg will be before going to visit. You won’t want your DD to fall further in love and then find out it’s not doable.
That said, if your DD can earn/save $2k-3k per summer, maybe that can help. Working during the school year may not help if those dollars are part of Work Study and already allocated for school costs.
@BettyQ, it wouldn’t hurt to still send her scores to Temple, maybe she could qualify for more merit.
It seems as if @BettyQ’s question has derailed the discussion. Perhaps she could start her own thread, so this one can concentrate on the OP’s situation.
It’s really all the same theme, and probably helpful to the original poster…in addition I am also a teacher, but with one income.
And as I would tell my students, when you’re writing, direct it at the person. You could have just asked me to start my own thread as opposed to tagging me and then speaking about me in third person.
I have often found these threads to go off for a bit and then come back around, that is what makes them more interesting and helpful.
Thanks to all of those with the helpful comments!
Temple for 50K in debt?
Take a step back from the edge.
Send her scores. Wait until she has another acceptance of a “peer school” with a bigger merit award, and then call Temple and tell them that it’s your D’s first choice and but for an extra $4K in aid she’d be signing on the dotted line. If there are no other peer school merit awards, you aren’t going to have much to negotiate with.
U Mass sounds like a great option if you just can’t bridge the gap for Temple without taking on more debt.
$50,000 is too much debt to go to Temple. If your daughter wants to do that you’ll need to protect her from herself.